Is money I inherit included in a bankruptcy?

Answer

Inheritance funds that you are entitled to receive at the date of Bankruptcy -- for example, where there has been a death and you are waiting distribution of funds or inheritance funds, you become entitled to during a bankruptcy (i.e. a death during your bankruptcy) -- are non exempt and must be paid to the Trustee. If you expect to receive an inheritance at some point in the future and have debt problems, consider filing a Consumer Proposal to pay off your debt over time at no interest. Under this scenario the inheritance funds are not lost however you can pay off the Proposal using a lump sum from the inheritance.

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